US billionaires got $434 billion richer during the pandemic, according to report
, 623 billionaires live in the US, including Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates, Facebook co-founder Mark Zuckerberg, investor Warren Buffett, and Oracle founder Larry Ellison. The report indicates that just those top five billionaires saw their wealth increase by a total of $75.5 billion, or 19%.
In total, the roughly 600 US billionaires saw their wealth grow from $2.948 trillion to $3.382 trillion within the past two months. "The pandemic has revealed the deadly consequences of America's yawning wealth gap, and billionaires are the glaring symbol of that economic inequality," Americans for Tax Fairness executive director Frank Clemente said in the report, which advocates for closing tax loopholes for the wealthy.
"Post-pandemic, the rich and corporations must begin to pay their fair share of taxes so we can build a society that works for everyone, not just billionaires and others at the top," Clemente added. The report comes as the number of Americans who filed for unemployment benefits continues to grow. On Wednesday, the US weekly jobless claims
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